secwatch.observer — SEC 8-K summary
======================================

Issuer:     Churchill Downs Inc (CHDN)
CIK:        0000020212
Form:       8-K
Filed at:   2026-09-28T13:23:00+00:00
Accession:  0001193125-26-403885
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Churchill Downs closes amended credit facility, extends revolver/TLA to 2031, issues $500M Term Loan B due 2033
--------------------------------------------------------------------------------

- New $500M senior secured Term Loan B due 2033 priced at SOFR+175bps and issued at 99.875% of principal; replaces existing term loan B-1.
- Eighth Amendment dated Sept 25, 2026 extends Revolver and Term Loan A maturities from 2029 to Sept 25, 2031; JPMorgan Chase Bank is administrative agent.
- Net proceeds repay term loan B-1 and outstanding revolver borrowings, pay transaction fees, and fund working capital and general corporate purposes.
- CDI issued a conditional redemption notice Sept 18, 2026 to redeem its 5.50% Senior Notes due 2027 on Oct 19, 2026, funded from the revolver.
- Revolver, Term Loan A and 2033 TLB are guaranteed by subsidiary guarantors and secured by substantially all assets of CDI and the guarantors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/20212/000119312526403885/0001193125-26-403885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/20212/000119312526403885/d166307d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-403885

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer